SoSo Daily Nov 27 | Morocco Drafts Cryptocurrency Regulations and Explores the Potential of Central Bank Digital Currency

According to sosovalue, the price of $BTC is 91,968 USD, a decrease of 3% from yesterday. The market cap of $BTC is 1.82 trillion USD, accounting for 54.9% of the total market cap; $BTC's 24-hour trading volume is 110.89 billion USD, making up 36.9% of the total trading volume.
The price of $ETH is 3,325.5 USD, down 4.19% from yesterday; the market cap of $ETH is 400.51 billion USD, representing 12.1% of the total market cap; $ETH's 24-hour trading volume is 44.52 billion USD, comprising 14.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67% of the total cryptocurrency market cap, and their combined trading volumes constitute 51.7% of the total trading volume.

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Zircuit (ZRC). As of 23:50 today, its market cap is 0E-8, with a coin price of 0.067280 USD, witnessing a 24-hour increase of 573%.
The second is sudoswap (SUDO). As of 23:50 today, its coin price is 0.36666 USD, with a 24-hour increase of 135%.
The third is Muse DAO (MUSE). As of 23:50 today, its coin price is 19.767 USD, showing a 24-hour increase of 115%.
In fourth place is Dasha (VVAIFU). As of 23:50 today, its coin price is 0.062430 USD, with a 24-hour rise of 82%.
In fifth place is Altered State Machine (ASTO). As of 23:50 today, its coin price is 0.028550 USD, increasing by 73.6% over the last 24 hours.




Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The Governor of the Central Bank of Morocco stated that Morocco has drafted regulations for the cryptocurrency industry and will continue to explore whether central bank digital currency can contribute to national policy objectives.
Next news:The Trump team plans to transfer cryptocurrency regulatory authority to the CFTC, weakening the role of the SEC. According to Fox Business, Trump and his incoming administration may empower the Commodity Futures Trading Commission (CFTC) to regulate certain digital assets. This change could include oversight of cryptocurrency exchanges and spot markets, such as Bitcoin and Ethereum, that are considered commodities, thereby diminishing the regulatory power of the Securities and Exchange Commission (SEC) in the industry. Outgoing SEC Chairman Gary Gensler supports the CFTC gaining the authority to regulate Bitcoin, stating that Bitcoin is a commodity. In March of this year, the CFTC referred to Ethereum as a commodity in its complaint against the cryptocurrency exchange Kucoin. Trump has pledged to strengthen the U.S. cryptocurrency industry, including the creation of a federal Bitcoin reserve, appointing the White House's first full-time cryptocurrency role, and firing Gary Gensler, who has taken a hard stance on cryptocurrencies. Last week, Gensler announced plans to resign as SEC chairman on January 20, 2025, the same day Trump is set to be inaugurated as the 47th president of the United States.
Next news:Pantera Capital Management's Bitcoin Fund, launched in July 2013, has achieved a 1,000-fold increase in value, with returns exceeding 132,118%. The fund began purchasing Bitcoin when the price was $74 per token. CEO Dan Morehead predicts Bitcoin could reach $740,000 by April 2028.
Next news:According to Wu, Brazilian Congressman Eros Biondini has proposed a bill suggesting the establishment of a "Bitcoin Strategic Sovereign Reserve" (RESBit), allocating up to 5% of international reserves to Bitcoin to diversify national assets, address exchange rate fluctuations, and mitigate geopolitical risks. The bill stipulates that reserve management must adhere to principles of transparency, utilizing high-security storage methods such as cold wallets, and it will be jointly managed by the central bank and the treasury, with regular disclosure of reports. This proposal also aims to support the development of blockchain technology and provide reserve support for the future digital Brazilian Real (Real Digital).
Next news:Kraken, a major crypto exchange, announced the closure of its NFT marketplace to allocate resources to new projects. The marketplace will cease operations on February 27, 2025, with users only able to withdraw assets after November 27, 2024. This decision aligns with Kraken's strategy to focus on developing new products and services. The NFT marketplace, launched in beta in November 2022, has seen stagnant sales, with weekly trading volumes not exceeding $200 million since April 2024.
Next news:Justin Sun has joined Donald Trump's World Liberty Financial Inc. (WLFI) as an adviser. This move comes alongside his investment in the company, indicating a strategic partnership between Sun and Trump's financial venture.
Next news:Uniswap Labs has announced a bug bounty program offering up to $15.5 million for identifying critical vulnerabilities in its v4 core contracts. This initiative is described as the largest bug bounty in history. The program encourages developers and security researchers to examine Uniswap's code for potential breaches, with rewards for discoveries. The bounty covers vulnerabilities in deployed Uniswap contracts and the main branch of undeployed v4-core contracts, with additional consideration for other Uniswap smart contracts where user funds are at risk. This move follows a history of significant payouts in the crypto industry, with Immunefi having paid over $100 million to ethical hackers. Uniswap's past actions include blocking addresses linked to stolen funds or sanctioned services.
Next news:Talus Network, a blockchain protocol for decentralized AI agents, raised $6 million in a funding round led by Polychain Capital, valuing the company at $150 million. Other investors included Foresight Ventures, Animoca, and angel investors like Polygon co-founder Sandeep Nailwal. The funding will support the development of Talus's ecosystem, including blockchain infrastructure and the Nexus framework for AI agents. Talus plans to introduce a TAI token for transaction fees and rewards. The platform uses the Sui Move programming language for its blockchain infrastructure, emphasizing safety and security. Talus is also launching 'AI Bae,' an AI dating app linked to TikTok, allowing users to create personalized AI companions.
Next news:

According to Wu, CZ tweeted that he does not oppose memes, but meme coins have become "a bit" strange now. Let's build real applications using blockchain.

Next news:According to Wu, Bitwise has announced the launch of a Bitcoin and Ethereum ETF which is proposed to be listed on the New York Stock Exchange and has submitted an S-1 registration filing to the U.S. SEC. This ETF offers passive investment exposure based on the relative market value of Bitcoin and Ether, with assets custodied by Coinbase Custody and net asset value (NAV) calculated using the CME CF benchmark pricing. It provides investors with a way to invest without directly holding cryptocurrencies and ensures asset security through cold storage technology, making it suitable for users looking to invest indirectly in digital assets.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.